In August 2020, consumer prices fell back by 0.1% over one month and increased by 0.2% year on yearConsumer price index - final results - August 2020
The health crisis due to the Covid-19 impacted the quality of the data: price collection on the field was adjourned from 16 March to 15 June; on the other hand, certain products were unavailable for sale. In August, as in July, only 1% of CPI basket is imputed due to the health crisis, after one quarter in June.
Additional information is available in “For further information”.
- Monthly change: −0.1% in August; Year-on-year change: +0.2%
- Drop in core inflation year on year
- Downturn in manufactured product prices year on year
- Slowdown in food prices year on year
- Lesser drop in energy prices
- Same rise in service prices year on year as in July
- For further information
Monthly change: −0.1% in August; Year-on-year change: +0.2%
In August 2020, the Consumer Price Index (CPI) edged down by 0.1% over a month, after +0.4% in July 2020. Manufactured product prices dropped sharply (−1.2%, after a stability in July). Those of energy (+0.3% after +1.0%) and services (+0.3% after +0.9%) slowed down and those of tobacco were stable after a 0.1% increase in July. Finally, food prices rebounded slightly (+0.2% after a 0.9% drop in the previous month).
Seasonally adjusted, consumer prices fell back by 0.5%, after +0.7% in the previous month.
Year on year, consumer prices slowed down to 0.2%, after +0.8% in the previous month. This drop in inflation resulted from a downturn in manufactured products, linked to the postponed summer sales, and a slowdown in food prices. Contrariwise, energy prices fell less year on year than in July. Finally, the prices of services and tobacco rose, year on year, as the same rate as in the previous month.
Drop in core inflation year on year
Year on year, core inflation dropped, in August, to +0.5% after +1.4% in the previous month. The Harmonised Index of Consumer Prices (HICP) edged down by 0.1% over a month, after +0.4% in the previous month; year on year, it slowed down to +0.2%, after +0.9% in July.
tableau Consumer Price Index (CPI), core inflation (ISJ) and Harmonised Index of Consumer Prices (HICP) year-on-year changes
Downturn in manufactured product prices year on year
Year on year, manufactured product prices fell back by 0.2%, after +1.8% in the previous month. This downturn resulted from that of clothing and footwear prices (−1.7% year on year after +10.1%) and a lesser rise of “other manufactured products” prices (+0.4% after +1.1%), linked to the postponed summer sales. The prices of household furniture (+2.6% after +5.2%), of games and hobbies (+0.1% after +1.6%), of tableware and household utensils (+1.2% after +2.3%) and of major household appliances (+0.4% after +1.4%) slowed down. The prices of personal computers (−3.0% after +0.6%) and travel goods (−1.9% after +4.5%) fell back. Contrariwise, the prices of new motor cars (+0.1% after stability in July) increased. Finally, health product prices fell more than in the previous month (−2.0% year-on-year, after −1.9% in July).
Slowdown in food prices year on year
In August 2020, food prices slowed down for the fourth consecutive month: +0.9% year on year after +1.1% in July. The prices of fresh food produces were less dynamic (+1.5% year on year after +2.2%). Those of fresh vegetables fell more sharply (−3.7% year on year after −0.6%) and those of fresh fish fell back (−0.4% after +0.2%). Contrariwise, the prices of fresh fruits accelerated (+8.5% year on year after +7.7%). Excluding fresh produces, food prices also decelerated, to +0.8% year on year after +0.9% in the previous month. The prices of meat (+2.0% year on year after +2.5%) and bread (+0.1% year on year after +0.4%) slowed down. Contrariwise, the prices of alcoholic beverages accelerated (+1.2% year on year after +1.1%).
tableau Detailed figures for various groups
|2020||August 2020||m-on-m change (2)||y-on-y change (3)|
|a) All households|
|Clothing and footwear||380||93.04||-6.7||-1.7|
|Other manufactured products||1699||99.81||-0.3||0.4|
|Actual rentals and services for dwellings||752||101.76||0.0||0.2|
|Total except rents and tobacco||9185||104.57||-0.1||-0.1|
|Total except tobacco||9795||104.34||-0.1||-0.1|
|b) Urban working-class households or households of employees|
|All products excluding tobacco||9685||103.84||-0.2||0.0|
|c) Households that belong to the lowest equivalized disposable income quintile - France|
|All products excluding tobacco||9685||103.56||-0.3||-0.3|
- (1) seasonally adjusted
- (2) : [m/(m-1)]
- (3) : [m/(m-12)]
- Geographical coverage: metropolitan France
- Source : INSEE – Consumer Price Indices
Lesser drop in energy prices
Year on year, the drop in energy prices softened: −7.1% in August, after −7.4% in July. Electricity prices gathered pace (+3.9% after +3.6% in July) and petroleum product prices fell less than in the previous month (−12.7% year on year, after −12.8% in July), as did gas prices (−11.9% year on year, after −13.0% in July).
Same rise in service prices year on year as in July
Year on year, service prices increased by 0.9% in August, as in July 2020. The drop in transport prices was sharply accentuated (−4.4% year on year after −0.8%), in the wake of airfares (−12.8% after −4.5%). Health services prices decelerated (+0.3% year on year after +0.6%). The prices of “other services” accelerated (+1.6% year on year after +1.2%), due to a rebound in accommodation service prices (+1.5% after −2.6%). Communication services prices also rose (+1.8% year on year after +1.5%). Finally, the prices of housing-related services increased at the same pace as in the previous month (+0.2% year on year).
tableau Detailed figures for Core inflation and HICP
|2020||August 2020||m-on-m change (1)||y-on-y change (2)|
|Core inflation - All items||6069||103.31||-0.9||0.5|
|Food excluding fresh products. meat. milk and exotic products||754||103.75||0.0||0.5|
|Services including actual rentals and services for dwellings||3283||105.79||0.1||0.9|
|HICP - All items||10000||105.89||-0.1||0.2|
- (1) : [m/(m-1)]
- (2) : [m/(m-12)]
- Source: INSEE - Consumer Price Indices
Compared with the provisional estimates published on August 28, 2020, the month-on-month and year-on-year changes in the CPI and in the HICP have been confirmed.
Data quality in August (pdf, 160 Ko)
Abbreviated Methodology (pdf, 131 Ko)
CPI : methodological changes for 2020 (pdf, 139 Ko)
Methodology (pdf, 141 Ko)
The CPI is calculated using scanner data, prices collected by INSEE collectors in physical outlets and a centralized collection (online collection, administrative data).
The price collection carried out by collectors on the field (about 40% of the CPI basket) was adjourned from 16 March to 15 June. Despite the introduction of new collection methods (price collection on the Internet, collection by phone, increased use of scanner data), the quality of the April, May and June indices (and to a lesser extent March) was affected. In addition, some few products were still unavailable for sale in August. These missing prices due to a lack of collection or an impossibility to purchase the products were imputed in compliance with Eurostat guidelines.
For further information: https://insee.fr/en/statistiques/4659409#documentation
Next publication of final results: 15 October 2020 at 8:45